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Quantitative Finance · Glossário

O que é Off-exchange settlement?

Definition 15.9 Markets III: Commodities, Energy and Crypto · Capítulo 15 — Centralised Exchanges

Off-exchange settlement is an arrangement in which a trading firm’s collateral stays with an independent custodian, the exchange credits the firm with a trading balance mirroring it, and the gains and losses of the firm’s trading are settled between the custodian and the exchange at set intervals or on demand, so that only the unsettled amount is at risk to the exchange.

Off-exchange settlement: the firm’s collateral stays with a custodian, the exchanges credit a mirrored trading balance, and net gains and losses are settled between custodian and exchanges at set times. An exchange’s failure can take only the unsettled amount. Schematic.
Figure 15.5. Off-exchange settlement: the firm’s collateral stays with a custodian, the exchanges credit a mirrored trading balance, and net gains and losses are settled between custodian and exchanges at set times. An exchange’s failure can take only the unsettled amount. Schematic.
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